Reinsurance News

Ardonagh’s Atlanta to merge with Markerstudy to create major personal lines platform

15th September 2023 - Author: Kassandra Jimenez-Sanchez

Ardonagh has agreed to a merger between its personal lines broking business Atlanta, and Markerstudy, to create a major new platform transacting over £3bn annual GWP across multiple insurance products in the UK insurance market.

The Ardonagh GroupThe transaction, subject to customary conditions, values Atlanta at £1.2bn and will be funded by a new investment led by Pollen Street Capital and Bain Capital Special Situations.

According to the announcement, Ardonagh and its related parties will receive a combination of cash and a substantial minority equity stake in the combined business, in addition to two seats on the board of directors of the combined business.

Key Atlanta executives including Ian Donaldson, Craig Ball and Emma Rawlinson will join the Markerstudy management team as senior executives of the combined group.

The combined business will provide a wide range of insurance products to millions of consumers, including home and motor insurance, and will employ around 7,300 people across the UK.

AmericanAg - Global Reinsurance Solutions

Atlanta manages c.£1bn of GWP on behalf of 2.6 million customers. It distributes a broad suite of products through household insurance brands including Swinton, van specialist Autonet and motorcycle experts Carole Nash.

Markerstudy offers omni-channel distribution and a broad product proposition to approximately 6 million customers across motor, pet, home and commercial (particularly SME).

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